The unemployment rate in Silicon Valley may be higher than the nine percent national average, but that’s not making it any easier for some young technology start-ups looking to hire engineers.
Todd McKinnon, the co-founder and chief executive of San Francisco software start-up Okta Inc., calls the competition for top talent “a war.” His company, which this year raised $10 million in Series A funding from venture firm Andreessen Horowitz and angel investors, plans to spend 80 percent of its new capital on salaries, mostly for engineers.
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